Crude oil futures decline on weak Asian leads

Crude oil futures fell Rs 24 to Rs 3,056 per barrel today as speculators offloaded positions amid a weak trend in Asian markets.
Trading sentiment turned weak in futures trade following a fall in crude oil prices in Asian markets, reversing sharp gains in the previous session, hit by a strong dollar and persistent concerns over a global supply glut.
At the Multi Commodity Exchange, crude oil for delivery in October dropped Rs 24, or 0.78 per cent, to Rs 3,056 per barrel in 4,864 lots.
The oil for far-month November delivery fell Rs 24, or 0.77 per cent, to Rs 3,112 per barrel in a volume of 71 lots.

Meanwhile, West Texas Intermediate (WTI) crude oil for October, which expires at the end of the trading day, eased by 39 cents to USD 46.29 a barrel in late-morning trade after spiking 4.1 per cent at its close in New York yesterday.
Brent crude for November dipped 37 cents to USD 48.55 per barrel following a 3.1 per cent surge in London.